We’re launching a new withdrawal option for US freelancers that will give you access to your earnings instantly. The new Instant Pay option will transfer your funds directly to your bank account the moment you request them, alleviating the waiting periods imposed by other disbursement methods.
How it works:
If this withdrawal option is available to you, you will see ”Instant Pay” (image below) under “Get Paid” in your User Settings.
When you set up Instant Pay, you’ll need to provide us with your debit card information. Just like it does for other withdrawal options, it can take up to 3 days to initially verify your debit card, so we recommend setting it up in advance. After the initial 3-day verification period, available funds can be instantly transferred to the bank associated with your debit card. The cost for the service is $2 USD per withdrawal.
The security period still applies to all payments and refunds on all contracts. Once funds are available to withdrawal is when you can use this Instant Pay option.
To use Instant Pay, you'll need a verified Visa or Mastercard debit card that can accept debit payouts. There are some debit cards that do not have this functionality and may be rejected by our systems. If that is the case, you will need to speak to your card issuer.
Let us know if you have any questions or comments.
Cool. I just tried it. You have to add it as a payment method via a bank debit card. I signed up, and it said the payment method would be added within 3 business days. I'll let you know how it goes after that.
Preston H wrote:
well... I guess Heath is more eligible than I am.
Here's all I got for my efforts:
Preston, is it a business account? Through another channel, I can receive instant transfers to my personal debit card, but my LLC debit card is not eligible.
re: "...is it a business account? Through another channel, I can receive instant transfers to my personal debit card, but my LLC debit card is not eligible."
I was rejected while trying a regular Chase debit card. Personal acccount, not business.
There may be instances where a Visa or Mastercard debit card may be rejected. Could you please contact your issuing bank to see if your debit card is eligible and setup for payout?
I tried to set up insta pay and got the same message that others were reporting that my payment method is not eligible. i contacted my bank and they said they successfully received a verification from Insta Pay and confirmed the account three different times. Next step to get someone on the Insta Pay side to investigate.